A change of direction for family policy in Italy: some reflections on the general family allowance (GFA).

We present and discuss the General Family Allowance (GFA), in Italian: Assegno Unico Universale, a measure that the Italian Government and Parliament have put in place from March 2022 addressing the persistent low fertility in Italy. The GFA modernizes monetary transfers in favor of families with children in Italy, covering large groups of families that were previously excluded from full benefits. Even if the aim of the GFA is to support fertility rather than to alleviate child poverty, it is likely that this measure will help to reduce poverty, especially for families with children previously excluded from significant cash contributions, such as recently resident foreigners and the unemployed. In addition, as GFA amounts are modest for wealthier couples, its potential effect on fertility-if there will be any-should be limited to couples with modest incomes. The GFA is also compared with the different systems of monetary transfers in favor of families with children of developed countries.

Ageing and the economic life cycle: The National Transfer Accounts approach.

OBJECTIVE: To illustrate the use of National Transfer Accounts (NTA) for understanding ageing and the economic life cycle in Australia. METHODS: The NTA methodology is applied utilising a range of unit record, demographic and administrative data sets from 1981 to 2010. RESULTS: During early and later life, total consumption (public and private) is greater than labour income. On a time series and cohort basis, we show that each successive generation has improved their level of well-being (as measured by consumption) relative to the previous years or previous cohorts from 1981 to 1982 onwards. We also show a substantial increase in labour income earned by mature age workers over this period. International comparisons show Australia to have consumption and labour income age profiles very similar to those of Canada but dissimilar to many other countries, driven by differences in demographic and policy settings. CONCLUSION: The NTA approach provides a powerful framework to track differences in the economic life cycle across age groups, across time, across cohorts and across countries.

Private and public consumption across generations in Australia.

OBJECTIVE: To investigate intergenerational equity in consumption using the Australian National Transfer Accounts (NTA). METHODS: Australian NTA estimates of consumption were used to investigate disparities in consumption between people of different ages and generations in Australia between 1981-1982 and 2009-2010. RESULTS: There is a clear patterning of consumption by age, with the distribution by age of consumption funded by the private sector being very different to that of consumption funded by the public sector. Australians have achieved notable equality in total consumption among people between the ages of 20 and 75 years. Substantial disparities exist, however, between different generations, with earlier generations experiencing lower levels of total consumption in real terms at particular ages than later generations. CONCLUSION: An accurate picture of intergenerational equity in consumption requires consideration of both cohorts and cross sections, as well as consumption funded by both the public and the private sectors.

Population ageing and the labour force: 2000-2015 and 2015-2030.

OBJECTIVE: To examine the role of variations in mature age labour force participation on labour force outcomes over Australia's recent past (2000-2015) and immediate future (to 2030). METHODS: To estimate the impact of rises in mature age participation on observed labour supply, we utilise demographic decomposition techniques. To examine future labour supply (to 2030), we simulate scenarios utilising a cohort-component projection model. RESULTS: Observed increases in mature age participation between 2000 and 2015 added approximately 786 000 mature age workers to the Australian labour force. Over the proceeding 15 years (2015-2030), conservative changes to prevailing mature age participation would add 304 000 additional workers. The speed of ageing is projected to increase and labour supply growth decrease in the next 15 years relative to that observed from 2000 to 2015. CONCLUSION: To benefit from increased mature age labour force participation, the barriers to mature age participation must be addressed.